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Wednesday, April 6, 2016

CEI Contract Manufacturing - My CNAV Analysis

I first came across CEI Contract Manufacturing (AVV.SI) when am doing a random stock filtering. It appears in the top few position of my filtered list. After learning about its lucrative previous year dividend yield of more than 7%, I decided to dig in further and did a quick CNAV (Conservative Net Asset Value) Analysis.

1. From the beginning of the year 2016, CEI has increased 41% from $0.51 to $0.72 (last closed today). So, at the current level, it is kind of pricey (1.55 Price/Book).
2. The company has a strong Balance Sheet

3. As at 31 December 2015, the Group has orders on hand worth $49.0 million (31 December 2014: $59.8 million) most
of which are expected to be fulfilled within the current financial year.
4. The company has declared a $0.052 dividend (7.2% Dividend Yield), to be paid on 27th Apr 2016 (XD on 12th Apr 2016).

cei since i started investing in 2003 have been a "dividend stock" despite being in a low margin manufacturing industry. check out its dividend history. also check out its shareholders. also think if this improvement in results this year is a "one off"

@uncle rich , one pt to note would be the source of contracts for this coy, and the sustainability of it , as the general manufacturing outlook isn't too bright , maybe can pick this up for a discount!

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